Wind energy capacity installations are expected to increase just under 9 percent in 2015, according to a new report from Navigant Research.
Installations year-over-year increased 42 percent in 2014 following a drop in installations the year before, according to the report, World Wind Energy Market Update 2015. The growth was largely attributed to policies in the U.S., China and Germany, and the market is poised for further growth in the next couple of years, the report said. Wind capacity installations are expected to grow an additional 8.9 percent this year.
“Moderate growth in the next two years is expected, but as wind incentives begin to adjust downward, particularly in China and Germany, fluctuation is also on the horizon,” said Jesse Broehl, senior research analyst with Navigant Research.
Vestas is again the top wind turbine supplier, with Siemens (NYSE: SI) in the second spot.
To download the full report, click here
Subscribe to the Power Engineering enewsletter